After months of bad news, Sri Lankan President Ranil Wickremesinghe announced that Sri Lanka had cleared the last hurdles to being approved for a $2.9 billion bailout from the International Monetary Fund- the IMF. While a final decision is expected to be announced during the IMF Spring Session next month, the news is expected to boost creditor confidence in the country that has been reeling from the covid crisis, economic mismanagement by the Rajapakse regime, and mounting debts.

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